What is a Judicial Bond?
If you are involved in a lawsuit, you may need a Judicial Bond. This is a type of surety bond, or more specifically, a court bond. A surety bond is kind of like insurance; its purpose is to guarantee you will follow through on your obligations.
Types of Judicial Bonds
Judicial Bonds can be divided into two categories:
1. Defendant Bonds
2. Plaintiff Bonds
Defendant bonds block a plaintiff’s action or postpone payment of a judgement. They generally permit the defendant to regain control of contest property or postpone the enforcement of a decree affecting rights to property. Common types of defendant bonds are Bail bonds, Appeal bonds, Counter-Replevin bonds, and Release of Lien bonds.
Plaintiff bonds are required of plaintiffs to ensure protection of the defendant should the plaintiff lose the lawsuit. They hold the plaintiff liable for any damages that the defendant suffers due to the result of the court proceeding. Common types of plaintiff bonds are Attachment bonds, Claim and Delivery bonds, Indemnity to Sheriff bonds,Injunction bonds, and Replevin bonds.
How to get a Judicial Bond
To get a Judicial Bond, you need to contact a surety bond company. To make sure that you are financially able and trustworthy, the surety bond company will ask you questions about your personal and financial history. You will likely need to have a good credit history and references.
When you're looking for a Judicial Bond, contact Surety Solutions. With experience in all 50 states, we know how to bond you, no matter what your situation is. We even provide free quotes so you can know how much you'd pay for your court bond.